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    3115-3135 Wilke Rd Arlington Heights, IL 60004

    Sponsored
    For Sale
    $2,150,000

    Three-building medical office complex, high NOI potential.

    Property size:
    41,161 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a three-building, single-story medical office complex totaling 41,161 square feet, situated on Wilke Road in Arlington Heights, Illinois, 60004. The property boasts a prime location, one block east of the full Route 53 and Dundee Road interchange, offering excellent visibility and accessibility. Currently 79% occupied, the complex generates over $492,000 in gross annual income from twelve tenants. The existing net operating income (NOI) is $118,137, with a pro-forma NOI projected at $249,000, representing significant upside potential. Approximately 8,625 square feet of vacant space is available, offering flexibility for an owner-user to occupy space and potentially manage or outsource management fees. The property features tenant-controlled HVAC, 24-hour access, high-speed internet and cable availability, operable windows, private restrooms, and a professionally landscaped park-like setting. Building signage is available, and individual units are available for sale or lease, presenting a value-add opportunity for investors. This multi-tenant property is ideal for medical or general office use. The asking price is $2,150,000, translating to $52.23 per square foot.

    Property Features for 3115-3135 Wilke Rd

    General Information

    Property type
    Medical offices
    Square Feet
    41,161 SF

    Building Details

    Buildings
    3
    Stories
    1

    HighLights

    • 79% Leased, 8,625 SF Vacant in Three Suites.
    • $492,000 in Gross Annual Income from 12 Tenants.
    • Owner‑Occupancy or Investment Opportunity with Management Flexibility.
    • Potential for Income Growth Through Leasing or Condo Sales.
    • Excellent Location: One Block from I‑53/Dundee Rd Interchange.
    • Suitable for Office or Medical Use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.9824758
    Latitude
    42.1099506

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    FAQs

    What type of property is this?
    Medical office - Three-building medical office complex, high NOI potential.
    Where is this medical office located?
    The property is located at 3115-3135 Wilke Rd Arlington Heights, IL.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: 79% Leased, 8,625 SF Vacant in Three Suites.; $492,000 in Gross Annual Income from 12 Tenants.; Owner-Occupancy or Investment Opportunity with Management Flexibility.
    Request Owner's contact information
    3115-3135 Wilke Rd Arlington Heights, IL 60004
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3115-3135 Wilke Rd Arlington Heights, IL 60004
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